Do you need 10 lakh urgently? Whether you need the money to meet any unexpected medical expense that insurance won’t cover to pay any wedding expenses or pay for your kids’ college admission fees at some college, you can get it from us. We at Piramal Finance offer a personal loan of 10 lakh to all eligible applicants at affordable interest rates. Meet your urgent financial need in no time and enjoy easy EMI repayments for your preferred loan tenure.
You can easily apply for a personal loan of up to 10 lakh at Piramal Finance. Simply follow these steps:
After completing the final process within 24 hours, the personal loan 10 lakh will get credited to your verified bank account.
Below is a table representing the personal loan 10 lakh EMI for 5 years, 4 years, 3 years, 2 years, and 1 year at a standard interest rate of 12.99*%pa. So, check it out:
|Year||Principal Amount||Interest Payable||Total Amount||Avg. Monthly EMI||Outstanding Balance|
|1||₹ 1,67,341||₹ 1,05,696||₹ 2,73,037||₹ 22,753||₹ 8,32,659|
|2||₹ 1,78,853||₹ 94,185||₹ 2,04,778||₹ 17,065||₹ 6,53,806|
|3||₹ 1,90,439||₹ 82,598||₹ 2,73,037||₹ 22,753||₹ 4,63,367|
|4||₹ 2,16,726||₹ 56,311||₹ 2,73,037||₹ 22,753||₹ 2,46,641|
|5||₹ 2,46,641||₹ 26,396||₹ 2,73,037||₹ 22,753||₹ 0|
Now getting a 10 lakh personal loan from Piramal Finance is easier. Avail of a personal loan at a reasonable interest rate starting from 12.99*%pa. Our interest rates are computed and offered to the customer based on the following factors:
Your age plays a crucial role in deciding your personal loan interest rate of 10 lakh. To apply for a personal loan, you must be at least 21 years old. However, the maximum age for applying for an instant personal loan is set at 60 years. Your ability to repay the loan will be greater if you are a younger applicant than if you are an older applicant. As a result, a younger applicant qualifies for a lower interest rate than an older applicant.
For a personal loan of 10 lakh an applicant with a credit score of 750 or higher is given higher priority than other applicants. A person with such a credit score is more creditworthy, and their chances of obtaining a low-interest personal loan increase significantly. Piramal Finance, on the other hand, offers low-interest loans to people with bad credit.
Your 10 lakh personal loan interest rate becomes low when you have a stable employment record and steady income. Applicants working in top private sector firms, PSUs, or government agencies are less likely to default repayments as their salaries are always credited on time.
A salaried person with at least two years of work experience and a self-employed person with at least a year of active business profile are both considered highly eligible for a 10 lakh loan. The more work experience you have, the better your ability to repay the loan and the lower your interest rate.
When applying for a loan of 10 lakh, you need to submit some essential documents to validate your ID, address and income. This table outlines all the documents required for availing of a personal loan of 10 lakh:
|Document Type||For Self-Employed Individuals||For Salaried Individuals|
|Photo ID Proof||Aadhaar card, driving license, passport, pan card, and voter ID||Voter ID card, Pan card, passport, and aadhaar card|
|Residence Address Proof||Aadhaar card, Passport, Voter ID card, utility bills, driving license||Voter ID card, Passport, aadhaar card, driving license, utility bills|
|Office Address Proof||GST Registration Certificate||Not Applicable|
|Income Proof||P/L Account and Balance Sheet for the previous three years, ITRs of the last three years, bank account statement of business account||Bank account statement of salary account, salary slip of the last three months, Form 16|
Note: When applying for a 10 lakh loan for business, you need to provide documents like a GST Return certificate, MoA, partnership deed, etc.
We at Piramal Finance offer a 10 lakh instant loan at reasonable interest rates and with no hidden costs. The table below represents all the fees and charges associated with such a loan on our platform:
|Loan Processing Charges||Up to 4% of the loan amount, along with applicable taxes|
|Interest Rate||Starting at 12.99*% p.a.|
|Cheque Bounce Charge||Rs. 500 + applicable taxes|
|Interest on Overdue EMIs||Rs. 500 + applicable taxes|
Piramal Finance's processing time for a 10 lakh instant loan is 24 hours. We will process the loan within 24 hours after the loan documents have been verified and approved.
Yes, you can get a 10 lakh loan without collateral at Piramal Finance. Personal loans are unsecured, so there’s no need for collateral to get such a loan. You will be saved from the hassle of pledging any asset as collateral with our 10 lakh loan.
Your eligibility for an instant 10 lakh loan depends on various factors, and your credit score is one of them. At Piramal Finance, we give equal weightage to all eligibility criteria, including credit score, monthly income, credit repayment history, age, and others. However, having a high credit score (750 or above) gives you an edge over other applicants.
Your personal loan 10 lakh EMI application will be denied if you do not provide the required documentation. Documents such as your photo ID, proof of income, and proof of address are required for any loan application.
There are various reasons why you need to choose Piramal Finance for a 10 lakh rupees loan. Some of these include: